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Newspaper
The Evening Star
Location
Cincinnati, Ohio, United States of America
Date
Aug 02, 1872
Page
2
A weekly report shows nine murders among New York City mortuary statistics. The figures provoke comparisons, noting the high fatality level would fill a month in New Zealand or the Tongoo Islands.
The text quotes Gen. Paxasanton denying any claim that Gen. Grant is a liar and noting he questioned the accuracy of Grant's recollection. It then discusses the French loan to L AN, totaling three thousand million francs, about $600 million, with subscriptions totaling nearly four times the amount, paid at 414 percent with 144 percent due in six weeks and 33 1/3 percent monthly for twenty months. German bankers at Berlin reportedly took the majority, described as lending money to pay old debts.
An 1872 discussion traces the postwar fiscal collapse of Southern states, noting massive increases in bonded indebtedness from 1868 to 1872. It highlights Florida, Georgia, Alabama, Louisiana, North Carolina, and South Carolina, the risk of repudiation talk, and the strain on taxpayers as states seek repayment without broad tax bases.
The speaker argues repudiation would cost a State far more than paying debts, and urges that better to bear losses from high taxes and slow capital flow than to repay or repudiate. Mississippi’s history shows lasting credit damage after repudiation. If states cannot meet bond terms, they should continue to owe and let market depreciation occur rather than renounce debt.
The note row reports multiple Indiana items: smallpox in Connersville, reorganization talk by the Connersville Zouaves, Pisgah session of the Madison District Ministerial Association, a pending chain gang ordinance in Madison, and storm damage in Lafayette including a tin roof loss at Masonic Hall. It also cites cholera absence in Lafayette, quinine season prep in Vincennes, a Brazil laundry venture from Philadelphia, a $7,500 sale of Ellen Wilson mare, police force growth in Madison, the Jennings County Agricultural Society fair starting September 4, a emancipation anniversary excursion from Indianapolis to Louisville with a Rushville picnic, a collection embezzlement in Indianapolis, a church-finishing gift to Bishop Bowman, a fatality from a Chicago express train at North Judson, a German resident Casper Kuebler’s self-inflicted death in Richmond, storm-related incidents in Lafayette, a tornado in Terre Haute, a dying Evansville cooper Philip Hammer, a failed motion for a new trial in Mrs. Clem’s Lebanon case with court delays.
Spain proposes issuing bonds to improve Cuba finances amid a general Caribbean finance plan. Banquet in Paris honored Stanley by American residents. Venezuela dispute not mentioned.
Special Correspondent notes Louisville ranks high in beauty and thrift despite census listing. Highlights include the bridge as a major landmark, its iron spans and daily freight traffic, the Exposition Building costing about 200000 dollars, and plans for the Grand Gift Concert to support the library. The piece also covers City Hall, local stone quarries, manufactures totaling around 20 million annually, and Louisville's widespread public services and schools.
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